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Good Mks listened to the jungle drums coming out of city.
M&S appoints Alex Freudmann as managing director of Food
(Sharecast News) - Marks & Spencer has appointed Alex Freudmann as the new managing director of its food division, succeeding Stuart Machin
Naughty JJ!!!
Dirty filthy shop/restaurant front elevations and paving with weeds growing is not about a shortage of money with businesses it’s a state of mind, and shows poor business acumen toward image.
Local by-laws across the country have a provision for the upkeep of all property directly outside and pathways. Rarely enforced!! I would fine to the max any property owner failing. Indeed I have in another capacity.
Why would anyone shop/eat in a property that’s filthy outside?!!
It’s also the start of a poorly performing business and leadership. It maybe a small point to many but the small things matter most.
Chilting hi, I don’t believe we have seen a published list of the outstanding closures in the media?? If it has been published I would be surprised because the last I heard they were reviewing 5 year sales/ebitda forecasts.
Not seen anything regarding Worthing or shoreham Mks/Tsc, Shoreham definitely not!! I can’t see any reason they might. Worthing if memory serves is 6/7 miles from Shoreham so it’s likely they will use combined sales/ebitda I would imagine.
Or even bearing!
Not all town centres look as I described, indeed some are so deserted they look naturally like museums displaying ‘shopping in 20th century GB’
Most town centre pathing stones are in such a poor state I often wonder if a hovercraft would be easier.
The 30 stores waiting for closure (as mentioned FY22 numbers) are probably like the Mks sp bouncing up and down on the breakpoints.
In many ways Mks strengthened digital presence has cannibalised their shops. Very few retailers can provide the same quality as Mks.
Key to Mks property is fluidity and able to adapt in the future, and definitely not tying itself into long lease terms, or other complexities.
I understand JJ about the town/city centres where you have what you need and want grouped together, makes sense for probably most of Mks most successful stores baring in mind it’s happy with 97.5% of its properties.
Good weekend all! Keep smiling!
https://www.timeoutdoha.com/shopping/ms-food-hall-launches-in-lusail
30 of these stores still to go out of the 100 closures announced a few years back.
Most have alternative edge of town replacements with ground level, easy parking, and modern new look designs, space allocations with increased food presence, cafe, eat now takeout.
Owned or low rent (3-5% sales ex vat)
Why stay on a high st??? Parking abysmal, yellow lines everywhere, dangerous curb stones, dirty filthy streets in most cases, vagrants, weeds everywhere, closed down shops, charity shops, vandalism.
Tens of ‘high street specialists’ have attempted to bring back high streets and reconnections to governments of the day (Mary Portas) etc all failed!
Most of our high streets need to be converted to housing, and consolidated.
Tree planting in town centres still deprived and frankly planners in most towns are without training.
https://www.bbc.co.uk/news/uk-england-south-yorkshire-61812702
These stores seriously can’t go fast enough! Multiple floors, poor access for vehicles, high rent, poor sales per sq.m, in a high st full of charity shops and closed up shops.
High-street stalwart Marks and Spencer is set to close its Barnsley town centre branch and move to an out-of-town retail park, according to the leader of the council.
I see Bluewater M&S has reopened after its refurb ! Looks great with all the new concepts!
Citadel Advisors Europe Limited 0.50% 0.07% 15 Jun 2022
Perhaps this is the way forward: Robotic, unemotional results.
But non the less: very good! Especially the online LfL +55% vs 3 years ago!
https://www.tescoplc.com/news/2022/1q-trading-statement-202223/
I find 80% business sales and indeed gross profit comes from 20% of range.
I was in a medium sized retailer yesterday and I counted 41 different cooking oils ! Why??? Is it a museum for suppliers?
It’s typical I can tell you!
I think it’s a great time to simplify, rationalise/delete.
Those businesses who genuinely deliver great services for theirs and potentially others customers will win. Quality and service with a market are usually rewarded.
Product range rationalisation started during covid-where close to 30% of range disappeared in small to medium size businesses and 10% in larger operators.
Shelf capacity in stores has to increase for fast movers as just in time efficiencies become weaker plus range rationalisation.
Good better best ranges has always helped balance gross profit but the depth of products has reduced and will reduce further.
Every cost line has to be under scrutiny and operations simplified or deleted.
GP/Wages/supply chain/Energy/services all under pressure and ebitda will offer less opportunity for capital spend on new business.
I think more stores in groups will close as profit breakpoints increase, independent retailers will crash first purely because they can’t pay the energy bills.
Retail will see more consolidation from now.
But the m/cap reduction of really good businesses will be irresistible for many PE firms.
Money will go to money!
That’s good news Chilting, there are many options and perhaps many will be adopted at the same time depending on price movements.
Average unit costs moving through retailers own supply chain are usually charged onto suppliers if they wish to use retailers facilities, as very little goes directly from suppliers into larger retailers. These unit costs (case movement) have increased 30% ytd.
This can’t carry on and just in time is under some threat and frequency of deliveries from DC to stores are being reduced further. Product ranges are also being reduced so range complexity is simplified and space allocations of retained sku’s are increasing.
Gross profit is in my view the largest impact on P&L as suppliers have been pulling up the draw bridge since before covid.
Retail is a difficult place right now that is for sure.
Investors are nervous, holders make money from sellers.
Seen these issues many times over, these trigger points to macro economic and geopolitics can and will turn the other way.
Mks have to keep adapting but anything in this world that reduces the use of fossil fuel is great news and eventually will reduce operating costs.
Keep the faith!
Totally agree Pokerchips.
The sp is an absolute steel with Mks fundamentals!
I can’t see any shorts over 0.50% !
It should also be noted that there are no sizeable shorts on Mks now, they appear to staying at arms length. This time LY 1.7%